With reference to Parliamentary Financial Committees in India, consider the following statements: 1. A Minister cannot be elected as a member of these committees. 2. The chairperson of these committees is appointed by the President of India. 3. The Public Accounts Committee is the oldest parliamentary financial committee in India. Which of the statements given above are correct?

Explanation

Statement 1 is correct: To ensure independent control, a minister cannot be elected as a member of parliamentary financial committees (such as the Estimates Committee, Public Accounts Committee, etc.). Statement 2 is incorrect: The chairperson of these committees is appointed/nominated by the Speaker of the Lok Sabha, not by the President. Statement 3 is correct: The Public Accounts Committee, first set up in 1921 under the provisions of the Government of India Act of 1919, is the oldest financial committee in India.